First, I am confident the market will be cut in half from the highs, it may take a year or two, but we will get there. Since there is no rush to get there, its important to look for bounces to unwind longs and/or go short.
The market created a failure last week, there is a new "lower lower" vs a "higher high", the market character has changed. We are now in a bear market for the next few years, like it or not. There are ways out, for example, if congress issues 8 or 16 trillion dollars in debt to match or exceed the money spend on 2020, the market will go to new highs. With Democrat's in office there is zero chance of deficit spending to this magnitude, that only happens under Republicans in office. This isn't a about which party is better, its simply a fact, look it up. (since Reagan, before it was the opposite)
I'll write up more what's ahead, for now these are the areas to watch:
S&P 500 close below 417 and the market is going down hard. First support is 433, I think we may bounce off of it this week (today?). To learn more watch the first half of this video. High level picture of the market failure (top green line) and the target (bottom green line) and we may pierce that one.
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Another you tuber worth watching, he is typically very positive.
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Oh, and there is calls for dollar rally, I think this is true, but it will be interesting when we must get off this train.
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